Deal Cartographer

It's sad but true -- deal world is full of ambiguity. We have tools at our fingertips that we can use to navigate this unknown terrain, however.

When making a deal in a landscape of ambiguity, it's imperative to use at least two tools (deal map and compass) and one strategy (relationship building). Today we'll discuss the first tool:

The Deal Map: Be sure that you can visualize your deal. One way to create a deal map is to draw a picture of your desired destination, then fill the map in backwards as you go through negotiations. The visual landscape of your desire mixed with what is actually happening will form the landscape. When you take a look at it, you'll recognize bridges, barriers and gaps to your desired destination. With each deal you'll get better, and more effective strategies and tactics will come to mind. Eventually, you'll become a deal cartographer. If you can draw your deal, you'll fully understand it.

With a Deal Map you can navigate your way through all obstacles by turning them into opportunities, and you'll therefore find yourself where you want to be. If you don't like where you're headed, reroute. Here's an example of a simple Deal Map we created at WieseLaw.

Next week we'll discuss the second essential tool for a successful negotiation, The Compass. Stay tuned! Meantime, make sure you strategize your next deal by creating a Deal Map of your own.


Anonymous said...

Totally agree, I always do use a Deal Map and I always teach my students to do so. Very powerful.
I like your articles.